About 12 lakh shares of Mahindra & Mahindra changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of the sugar companies rallied in today’s trade.
Shares of Ugar Sugar Works Ltd. rose 9.6 percent to Rs 15.45, while shares of Mawana Sugars rose 4.7 percent to Rs 49.20. Shares of Khaithan India and Rana Sugars rose 4.4 percent and 3.6 percent respectively.
Balrampur Chini Mills rose 1.2 percent to Rs 141.30 while Bannari Amman Sugars rose 2.2 percent.
Adani Power
- Stock rose as much as 15.7 percent to Rs 59.40.
- The company’s board approved proposal to acquire Korba West Power and GMR Chhattisgarh Energy.
Anant Raj
- Stock rose as much as 10.6 percent to Rs 32.90.
- The company entered into a joint venture with Birla Group for realty development.
Deepak Nitrite
- Stock rose as much as 5.5 percent to Rs 306.
- The company unit plans to save $400 million in value of import savings.
Godrej Properties
- Stock rose as much as 5.3 percent to hit an all-time high at Rs 1,065.
- The scrip is the best performer on Nifty Realty Index.
“The Nifty had made a low at 11,620 and now the base has been shifted on the higher side,” StockAxis’ Senior Technical Analyst Brijesh Singh told BloombergQuint in an interaction. “The 50-stock index is seeing a resistance at 11,970 and a support at 11,700.”
Indian equity benchmarks extended gains to trade at day’s high and are set to erase losses clocked in the last two trading sessions.
The S&P BSE Sensex rose 340 points intrday to 39,735 and the NSE Nifty 50 traded at 11,874, up 0.72 percent. The broader market index represented by the NSE Nifty 500 Index rose 0.6 percent.
About 41.3 lakh shares of Petronet LNG changed hands in two block deals, Bloomberg data showed. Buyers and sellers were not known immediately.
- ACC approved reappointment of NS Vishwanathan as DG, RBI for a period of one year from July 4, 2019
- NS Vishwanathan's term as DG was supposed to end on July 3, 2019
Source: DOPT notification
Mahindra & Mahindra Ltd.'s auto sales fell 6 percent on a yearly basis to 42,547 units in June, according to its stock exchange notification. Its tractor sales fell 18 percent year-on-year to 33,094 units.
Key sales highlights (YoY)
- Passenger vehicle sales rose 4 percent to 18,826 units
- Utility vehicles sales rose 8 percent to 17,723 units
- Sales of cars and vans including sales in subsidiary of Mahindra Electric Mobility Ltd. fell 36 percent to 1,103 units
- Commercial vehicle sales fell 15 percent to 16,394 units
- Medium and heavy commercial vehicle sales fell 36 percent to 705 units
- Total domestic sales fell 5 percent to 39,471 units
- Total exports fell 11 percent to 3,076 units
Tractor sales highlights (YoY)
- Domestic tractor sales fell 19 percent to 31,879 units.
- Tractor exports fell 3 percent to 1,215 units.
Shares of M&M rose as much as 1.2 percent to Rs 663.45 after the announcement.
Chinese lenders to Reliance Communications Ltd, including China Development Bank, Exim Bank of China and Industrial & Commercial Bank of China, are in the midst of negotiations with foreign funds to sell their loan exposures to the insolvent telecom firm, two people in the know confirmed.
Read the full story here.
About 12.7 lakh shares of NLC Index changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of the mining and power company rose as much as 2.7 percent to Rs 67.25 after the block deal.
Indian equity benchmarks retreated from their day’s high.
The S&P BSE Sensex rose 180 points or 0.46 percent to 39,676 as of 1 p.m. The 31-share index rose 0.79 percent or 310 points intraday. The NSE Nifty 50 traded around 11,860, up 0.61 percent. The small-cap index represented by the NSE Nifty SmallCap 100 rose 0.52 percent after advancing 0.69 percent intraday.
Reliance Infrastructure was in focus as the stock fell nearly 11 percent after Brickwork Ratings downgraded rating on the company’s bank loan facilities worth Rs 1,151 crore.
Benchmarks in Japan and China advanced, while European futures pointed to gains after the deal between Presidents Xi Jinping and Donald Trump validated investor hopes heading into Saturday’s meeting.
- Futures on the S&P 500 Index climbed 1.1 percent.
- Japan’s Topix index rose 2.1 percent.
- The Shanghai Composite advanced 2.1 percent.
- Australia’s S&P/ASX 200 Index gained 0.4 percent.
- Euro Stoxx 50 futures advanced 1 percent.
Catch all the updates on Global markets here.
Source: Bloomberg
Shares of Ahluwalia Contracts rose 1.8 percent to Rs 337 as of 12:45 p.m. The stock rose 2.7 percent intraday.
The company secured new orders aggregating to Rs 262.23 crore for the construction of institutional, commercial including electrical, plumbing and firefighting services, according to its stock exchange filing.
The stock traded at 14 times its estimated earnings per share for the coming year, Bloomberg data showed.
Shares of Reliance Infrastructure fell as much as 10.8 percent to Rs 49.60.
Brickwork Ratings downgraded rating on Reliance Infra’s bank loan facilities worth Rs 1,151 crore to D from C, citing deterioration in credit risk profile and weakening of the financial/debt servicing profile owing to substantial losses reported during the previous financial year.
The stock declined 87 percent in the past 12 months compared to a 12 percent gain in the Sensex, according to Bloomberg data.
Indian equity benchmarks traded at day’s high as investors assessed local events over the global.
The S&P BSE Sensex rose as much as 310 points to 39,704 and the NSE Nifty 50 rose as much as 0.73 percent to 11,875.10.
The investors are currently waiting for the upcoming Union Budget speech, which is scheduled on Friday over the U.S.-China trade truce and U.S.-North Korea relations, Independent Investment Advisor Sharmila Joshi said.
“The markets are expecting a positive outcome from the Budget. Besides, the markets are also cheering the arrival of monsoon,” Joshi added.
Ashok Leyland’s sales fell 19 percent to 12,810 units in June, according to its stock exchange filing.
Key Sales Highlights (YoY)
- Domestic medium and heavy commercial truck sales fell 23 percent to 6,253 units.
- Domestic medium and heavy commercial bus sales rose 2 percent to 1,527 units.
- Total domestic medium and heavy commercial vehicle sales declined 19 percent to 7,780 units.
- Domestic light commercial vehicle sales fell 4 percent to 4,305 units.
- Total domestic vehicle sales fell 14 percent to 12,085 units.
Sales Including Exports (YoY)
- Total medium and heavy commercial truck sales fell 30 percent to 6,445 units.
- Total medium and heavy commercial bus sales declined 2 percent to 1,982 units.
- Total medium and heavy commercial vehicle sales fell 25 percent to 8,427 units.
- Total light commercial vehicle sales fell 3 percent to 4,383 units.
Shares of the truck and bus maker rose 0.5 percent to Rs 87.70 after the announcement. The stock rose 1.4 percent intraday.
Maruti Suzuki India Ltd.’s sales fell for the fifth straight month in June.
The company sold 1.24 lakh units in June, a fall of 14 percent from the year ago period, India’s largest carmaker said in a stock exchange filing.
Key sales highlights (YoY)
- Sales of mini segment fell 36.2 percent to 18,733 units.
- Sales of compact segment fell 12.1 percent to 62,897 units.
- Sales of Ciaz rose 47.1 percent to 2,322 units.
- Sales of utility vehicles fell 7.9 percent to 17,797 units.
- Sales of Vans fell 24 percent to 9,265 units.
- Sales of Super Carry rose 24 percent to 2,017 units.
- Total domestic sales fell 15.3 percent to 1.14 lakh units.
- Total exports rose 5.7 percent to 9,847 units.
The sales of new WagonR are reported under compact segment and the sales number of old discontinued WagonR are however, reported in the mini sub-segment effective February 2019, the company said.
Shares of Maruti Suzuki fluctuated between gains and losses to trade 1.3 percent higher at Rs 6,618 after the announcement.
Escorts Ltd. sold 8,960 tractors last month, a fall of 10.2 percent from the year-ago period, according to its exchange filing.
Key Highlights (YoY)
- Domestic sales declined 11.4 percent to 8,648 units.
- Export jumped 38.7 percent to 312 units.
Shares of Escorts rose 3.4 percent to Rs 554.90 after the announcement. The stock gained 3.6 percent intraday.
VE Commercial Vehicles Ltd., a subsidiary of Eicher Motors Ltd. sales fell 28.5 percent on a yearly basis to 4,569 units last month, according to its stock exchange filing.
Shares of the company traded 1.6 percent to Rs 19,441 after the announcement. The stock had advanced 2.3 percent intraday.
Indian equity benchmarks continued to trade higher.
The S&P BSE Sensex rose 160 points to 39,652 as of 11 a.m. and the NSE Nifty 50 traded around 11,860, up 0.62 percent.
Ten out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 1.4 percent gain. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.17 percent.
The Nikkei India Purchasing Managers Index eased to 52.1 in June from 52.7 in the previous month, according to a statement by IHS Markit, which compiles the index. A reading below 50 indicates contraction in activity, while a number above it signals expansion.
Shares of DHFL fluctuated between gains and losses to trade 0.49 percent higher at Rs 72.40.
Lenders of troubled non-banking finance company Dewan Housing Finance Corporation Ltd. are scheduled to meet today, to seek a solution for the Rs 90,000 crore debt that is owed to them, sources told PTI.
The stock traded at 2.1 times its estimated earnings per share for the coming year, according to Bloomberg data.
Nifty’s 11,900 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the weekly contract, which is set to expire this Thursday gained 8.3 percent to Rs 44.85. Over 4.7 lakh shares were added to the open interest which stood at over 28.55 lakh shares.
Indian equity benchmarks extended opening gains.
The S&P BSE Sensex rose as much as 0.65 percent or 254 points to 39,649.47 and the NSE Nifty 50 rose as much as 0.61 percent to 11,860.85. The broader market index represented by the NSE Nifty 500 Index rose as much as 0.59 percent.
Bajaj Auto was in focus after the company reported its June auto sales. The stock rose as much as 2.4 percent, making it the best performer on Sensex.
Bajaj Auto Ltd. sold 4.04 lakh units last month, a little changed from June 2018, according to its stock exchange filing.
Key Sales Highlights (YoY)
- Domestic motorcycle sales fell 1 percent to 1.99 lakh units.
- Motorcycle exports rose 11 percent to 1.51 lakh units.
- Total motorcycle sales rose 4 percent 3.51 lakh units.
- Domestic commercial vehicles fell 11 percent to 29,885 units.
- Commercial vehicles’ exports fell 29 percent to 23,448 units.
- Total commercial vehicle sales fell 20 percent to 53,333 units.
- Total domestic sales fell 2 percent to 2.29 lakh units.
- Total exports rose 3 percent to 1.75 lakh units.
Shares of Bajaj Auto rose as much as 2.4 percent to Rs 2,893.40 after the announcement.
Shares of Adani Power fluctuated between gains and losses to trade 0.19 percent higher at Rs 51.45.
The company’s board approved the proposal for the acquisition of insolvent firms Korba West Power Company and GMR Chhattisgarh Energy, in a move that would pave the way for the Gautam Adani-led group flagship to expand capacity.
The stock resumed gains after a one-day blip. The scrip rose in seven trading sessions out of eight.
Shares of Reliance Home Finance fell as much as 7.2 percent to Rs 10.95.
The company failed to repay the principal obligations on its non-convertible debentures held by Reliance Mutual Fund, worth Rs 400 crore. The non-banking lender paid the interest due on the debentures but failed to honour principal repayment obligations, Reliance Mutual Fund said in a statement.
Of the shares traded, 46 percent were at the ask price and 50 percent were at the bid, according to Bloomberg data. The stock declined 80 percent in the past 12 months compared to a 11 percent advance in the Sensex.
Shares of Eveready Industries hit its lower circuit of 5 percent at Rs 75.95.
Price Waterhouse resigned as statutory auditor of the company on June 28 citing its inability to analyse the impact of financial support extended by the battery maker to its promoter group entities. The board also entered into an agreement with Madhu Jayanti International to sell assets worth Rs 6 crore relating to packed tea product business.
Trading volume was almost 350 times its 20-day average, Bloomberg data showed. The stock rose 11 percent in the past five days and fell 13 percent in the past 30 days.
Indian equity benchmarks opened higher in today’s trade, halting a two-day fall.
The S&P BSE Sensex rose as much as 0.54 percent to 39,068 and the NSE Nifty 50 rose as much as 0.55 percent to 11,853.25. The broader market index represented by the NSE Nifty 500 Index rose as much as 0.55 percent.
The market breadth was tilted in favour of buyers. About 885 stocks advanced and 480 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty 1.1 percent gain.
Indian equity benchmarks are set to open higher in today’s trade.
The S&P BSE Sensex rose 86 points to 39,481.60 during the pre-market trade and the NSE Nifty 50 hovered around 11,830, up 0.34 percent.
In the currency market, The Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.18 percent to 68.90 against the greenback.
Here's a quick look at the corporate insider trades reported on Friday
— BloombergQuint (@BloombergQuint) July 1, 2019
Read: https://t.co/CZqvplal6g pic.twitter.com/yHSpldWFGH
- Zee Entertainment Enterprises promoter Cyquator Media Services released pledge of 4.6 lakh shares, invoked pledge of 51.47 lakh shares and revoked pledge of 25.25 lakh shares between June 20-27.
- Sical Logistics promoter Tanglin Retail Realty Developments created pledge of 5.18 lakh shares on June 19.
- Jamna Auto promoter Map Auto released pledge of 5 lakh shares on June 27.
- Aurobindo Pharma promoter Nityananda Reddy created pledge of 4.25 lakh shares on June 27.
- JSW Steel promoters created pledge of 1.23 crore shares from June 25-27.
- Apollo Hospitals Enterprise promoter and director Suneeta Reddy created pledge of 2.5 lakh shares on June 26.
- Emami promoter groups created pledge of 30.8 lakh shares from June 24-25.
- Hubtown promoter Falguni Shah invoked pledge of 2.5 lakh shares on June 27.
- Infibeam Avenues promoter Infinium Auto Mall released pledge of 10 lakh shares on June 28.
- DB Corp promoter DB Consolidated released pledge of 12.05 lakh shares on June 28.
- Cox & Kings promoter Liz Traders and Agents invoked pledge of 9.16 lakh shares on June 28.
- Sadbav Engineering promoter Shantaben Patel released pledge of 27.5 lakh shares on June 28.
- Emami promoters release pledge on 5.1 percent of their holding.
- Apollo Hospitals promoters pledge additional 0.87 percent of their holdi
- NIIT Technologies: Hulst BV acquired 3.32 lakh shares or 0.54 percent equity at Rs 1,341.31 each.
- JK Paper: Promoter JK Credit & Finance sold 13 lakh shares or 1.84 percent equity at Rs 122.35 each.
- Reliance Infra: New York State Common Retirement Fund sold 14.2 lakh shares or 0.55 percent equity at Rs 57.59 each.
- Maybank Kim Eng Securities acquired 76.5 lakh shares or 1.15 percent equity at Rs 44.52 each.
- Promoters Infinium Communication and Infinity Drive sold 1 crore shares or 1.5 percent equity at Rs 44.65 each.
- Windacre Partnership Master Fund acquired 5.59 crore shares or 2.12 percent equity at Rs 135 each.
- Morgan Stanley France sold 4.86 crore shares or 1.84 percent equity at Rs 135 each.
Infibeam Avenues
Power Finance Corporation
IOCL cuts ATF prices for the second consecutive month; biggest year-on-year cut in prices in the last three years.
— BloombergQuint (@BloombergQuint) July 1, 2019
Read more market stories here: https://t.co/iSu5eUF5YS pic.twitter.com/vpe9e1x2ur
- July 1: Automakers to report sales data for June
- July 1: India Manufacturing PMI data for June
- July 3: Indian Services and Composite PMI for June
- July 4: India’s economic survey
- July 5: Finance Minister Nirmala Sitharaman to present Union Budget for 2019-20
- Boris Johnson and Jeremy Hunt campaign through the week as grassroots Conservative Party members decide who’ll be Britain’s next prime minister.
- OPEC+, a wider coalition that includes Russia, meets in Vienna Tuesday. Energy ministers from Saudi Arabia and Russia are likely to speak at the press conference following the meeting.
- U.S. celebrates the Independence Day holiday on Thursday.
- The U.S. jobs report is due Friday and is projected to show nonfarm payrolls rose by 160,000 in June, rebounding from a reading of 75,000 the month prior. The June employment situation report is also projected to show the unemployment rate held at 3.6 percent.
Gold Sinks Most in a Year as Trade Truce Deals Blow to Bulls
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